Nice work Geeris.
Half yearly report looks good to me! They are not in a position to monetize on their technologies yet as of course it's still in development.
It is good to see they are earning at least some income from bank deposits and receiving cash back from the ATO. Archer has always used funds efficiently and wisely and still have a number of years of runway before any capital raise would be required barring any potential acquisition.
Just as a note Geeris. The University Of Sydney 100% owns the IP for 12cq - Archer has an Binding exclusive rights agreement with University of Sydney Commercial Development and Industry Partnerships ( CDIP ) that allows Archer the right to develop and commercialize the 12cq technology.
The Bio Chip IP is 100% owned by Archer.
Mohammad was working with the University of Sydney when the unique properties of what is now known as 12cq were discovered and published in Nature Journal - hence why the University of Sydney owns the IP. Bálint Náfrádi from Ecole Polytechnique Fédérale de Lausanne is the co-inventor along with Dr Mohammad Choucair hence the close working relationship with our Swiss Partners.
Switzerland Innovation Park was a logical step because of our close relationship with our Swiss Partners. I have no doubt will will hear something regarding expansion into the USA also in time.
The decision to sell off the mineral tenements over a year ago which many of us here have financially benefited from was a bold and ballsy decision from management so they can concentrate on Technology development - I think this also showed the high level of confidence in commercializing 12cq and Bio chip.
Also the idea that throwing lots of money at Technology development .. ie .. Why hasn't IBM or Google developed a Room Temperature Quantum Chip makes little sense. It's not just the money that makes this happen .. it's having the right people - the scientists and Engineers. Archer is fortunate to have people like Mohammad onboard. Martin and Matthew also, who are pioneers in the Quantum field with their own claim to fame.The Bio chip team also has some amazing talent.
The quantum development teams ( minus marketing people) at IBM and others are not much bigger then Archers team from what I have been told, so although deep pockets can help, it's having talented people with the right skill sets and knowledge that will make this work. I'm in awe of the talent pool at Archer and congrats to Mohammad for bringing this team together.
None of this is easy and Archer is blazing it's own trail as there is simply no trail to follow and that's what makes investing here exciting. There is always a risk with any company on the ASX. Time will tell as it always does.
Enjoy the weekend - what's left anyway...
(20min delay)